Government to consider ban on buying of homes by international investors
The Government is considering banning international investors from buying family homes in housing estates.
It’s understood the Housing Minister is looking at various emergency options after investors made large purchases in estates in Dublin and Kildare.
The Taoiseach has described the situation as unacceptable in the Dáil yesterday.
Louise Bayliss from Focus Ireland says it’s resulting in people getting stuck renting.
"At the moment because we haven't been building social housing we're pushing a lot of social housing tenants into the private rental market through HAP and means like that.
"And because cuckoo funds are buying up housing estates like that a lot of first time buyers are being locked out of property ownership and they're being pushed into the private rental market.
"So we have a swish of people all now competing for the same properties, which is pushing up rent."
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